港股打新亏钱了

Market Overview - The market experienced a decline, with the Wind All A index dropping by 1.2% and the three major Hong Kong indices falling by approximately 2% [1] - The decline was attributed to external factors, particularly the Federal Reserve's decision to maintain interest rates and Jerome Powell's firm stance during the press conference [2][4] Federal Reserve and Economic Indicators - The unemployment rate appears stable, but inflation risks are expected to rise due to tariffs, leading to a continued pause in interest rate cuts [2] - The G7 summit discussions were reportedly unproductive, with trade negotiations between the US and Europe extended to July 9, increasing the likelihood of ongoing trade conflicts [2] Hong Kong Market Dynamics - The Hong Kong market saw a significant drop, with the AH premium index returning above 130 after seven trading days [4] - The low HIBOR rate has contributed to excessive liquidity in the Hong Kong banking market, benefiting small-cap and growth stocks [4][10] IPO Market Activity - The recent IPO of Haitian Flavor Industry in Hong Kong attracted nearly HKD 400 billion in subscriptions, significantly surpassing previous IPOs [5][6] - The low financing costs due to HIBOR being near zero have encouraged leveraged investments in IPOs, leading to high subscription rates [7][9] Investment Risks in IPOs - Despite high initial interest, many investors in the Haitian IPO may face losses due to the stock's performance on its debut [11] - The historical high rate of IPO failures in Hong Kong raises concerns for investors considering leveraged positions in new listings [12][14] Future Market Trends - The current low HIBOR rate may reverse due to the strong Hong Kong dollar triggering a weak-side convertibility guarantee, potentially leading to liquidity withdrawal by the Hong Kong Monetary Authority [15][16] - This potential shift in liquidity could prompt leveraged funds to exit the market, contributing to further declines in overheated sectors [17] Sector-Specific Updates - In the Hong Kong market, Pop Mart announced a pre-sale model, which negatively impacted the secondary market prices of its products [20] - Ping An Life has increased its stake in Postal Savings Bank, now holding over 12% of the H-shares, indicating a focus on high-dividend and large technology stocks in the Hong Kong market [21]